The stock of IMI plc (LON:IMI) gapped up by GBX 4 today and has GBX 1564.87 target or 67.00% above today’s GBX 937.05 share price. The 5 months technical chart setup indicates low risk for the GBX 2.64 billion company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 1564.87 price target is reached, the company will be worth GBX 1.77B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 1.16% or GBX 10.95 on November 18, hitting GBX 937.05. About 961,218 shares traded hands or 22.03% up from the average. IMI plc (LON:IMI) has declined 2.92% since April 20, 2016 and is downtrending. It has underperformed by 7.35% the S&P500.
IMI plc (LON:IMI) Ratings Coverage
Out of 22 analysts covering IMI PLC (LON:IMI), 5 rate it a “Buy”, 2 “Sell”, while 15 “Hold”. This means 23% are positive. IMI PLC has been the topic of 134 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was maintained by JP Morgan with “Overweight” on Monday, August 3. Barclays Capital maintained IMI plc (LON:IMI) rating on Monday, August 1. Barclays Capital has “Equal Weight” rating and GBX 895 price target. Morgan Stanley maintained IMI plc (LON:IMI) rating on Wednesday, October 7. Morgan Stanley has “Overwt/In-Line” rating and GBX 1200 price target. AlphaValue maintained IMI plc (LON:IMI) on Thursday, July 23 with “Buy” rating. As per Tuesday, August 4, the company rating was maintained by Liberum Capital. The rating was maintained by UBS on Wednesday, August 17 with “Sell”. The rating was maintained by Liberum Capital with “Hold” on Friday, July 31. The stock of IMI plc (LON:IMI) has “Hold” rating given on Tuesday, January 26 by Jefferies. The rating was maintained by Investec with “Buy” on Thursday, February 11. Peel Hunt maintained IMI plc (LON:IMI) rating on Friday, November 27. Peel Hunt has “Hold” rating and GBX 900 price target.
IMI plc is a United Kingdom-based specialist engineering company. The company has a market cap of 2.64 billion GBP. The Firm is engaged in designing, manufacturing and servicing engineered products that control the precise movement of fluids. It has a 24.4 P/E ratio. The Firm operates though the following divisions: IMI critical engineering, which provides flow control solutions; IMI precision engineering, which specializes in developing motion and fluid control technologies, and IMI hydronic engineering, which is engaged in designing and manufacturing technologies that delivers heating and cooling systems to the residential and commercial building sectors.
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